Question: Errors in trial balance Identify the errors in the following trial balance. All accounts have normal balances. Ensemble Co. Unadjusted Trial Balance For the Year

Errors in trial balance

Identify the errors in the following trial balance. All accounts have normal balances.

Ensemble Co. Unadjusted Trial Balance For the Year Ending December 31, 20Y8
Line Item Description Debit Balances Credit Balances
Cash 71,300
Accounts Receivable 156,020
Prepaid Insurance 33,750
Equipment 476,000
Accounts Payable 18,000
Salaries Payable 12,000
Common Stock 224,600
Retained Earnings 184,200
Dividends 57,010
Service Revenue 750,100
Salary Expense 312,310
Advertising Expense 68,260
Miscellaneous Expense 14,250
Miscellaneous Expense 1,452,190 1,452,190

After identifying the errors, prepare a corrected unadjusted trial balance. For those boxes in which no entry is required, leave the box blank.

Ensemble Co. Unadjusted Trial Balance December 31, 20Y8
Line Item Description Debit Balances Credit Balances
Cash Cash Cash
Accounts Receivable Accounts Receivable Accounts Receivable
Prepaid Insurance Prepaid Insurance Prepaid Insurance
Equipment Equipment Equipment
Accounts Payable Accounts Payable Accounts Payable
Salaries Payable Salaries Payable Salaries Payable
Common Stock Common Stock Common Stock
Retained Earnings Retained Earnings Retained Earnings
Dividends Dividends Dividends
Service Revenue Service Revenue Service Revenue
Salary Expense Salary Expense Salary Expense
Advertising Expense Advertising Expense Advertising Expense
Miscellaneous Expense Miscellaneous Expense Miscellaneous Expense
Total Total Total

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